Wendy's 2012 Annual Report Download - page 41

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Company-owned Franchised Systemwide
Restaurant count:
Restaurant count at January 2, 2011 .................... 1,394 5,182 6,576
Opened .......................................... 20 69 89
Closed ........................................... (15) (56) (71)
Net purchased from (sold by) franchisees ................ 18 (18) —
Restaurant count at January 1, 2012 ................ 1,417 5,177 6,594
Opened .......................................... 16 85 101
Closed ........................................... (32) (103) (135)
Net purchased from (sold by) franchisees ................ 26 (26) —
Restaurant count at December 30, 2012 ............. 1,427 5,133 6,560
2012 2011 2010
Company-owned average unit volumes:
Wendy’s ......................................... $1,483.8 $1,456.4 $1,417.8
Sales
Change
2012 2011
Wendy’s .................................................... $79.2 $ 69.5
Bakery and other .............................................. (7.5) (22.0)
$71.7 $ 47.5
The increase in sales in 2012 was partially due to an increase in our average per customer check amount, in part
offset by a decrease in customer transactions throughout the majority of 2012. Our average per customer check
amount increased in 2012 primarily due to strategic price increases on our menu items and, to a lesser extent, the
composition of our sales which included more premium products in 2012. Wendy’s company-owned restaurants
opened or acquired subsequent to January 1, 2012 resulted in incremental sales of $51.1 million in 2012, which were
partially offset by a reduction in sales of $17.6 million from locations closed or sold after January 1, 2012. Sales were
also negatively impacted by $2.7 million due to changes in Canadian foreign currency rates.
The increase in sales in 2011 was primarily due to increases in both our average per customer check amount
and in the number of customer transactions. Our average per customer check increased primarily due to (1) increases
in prices on certain menu items and (2) new product offerings with a higher menu price. Sales were also impacted by
a $9.4 million benefit due to changes in Canadian foreign currency rates, which was partially offset by a decrease of
$2.3 million in company-owned same-store sales primarily due to the effect of higher sales taxes in two Canadian
provinces in the first half of 2011 as compared to the first half of 2010. Wendy’s company-owned restaurants opened
or acquired subsequent to January 2, 2011 resulted in incremental sales of $24.5 million in 2011, which were partially
offset by a reduction in sales of $9.7 million from locations closed or sold after January 2, 2011.
Franchise Revenues
Change
2012 2011
Franchise revenues ................................. $2.1 $8.5
The increases in franchise revenues for 2012 and 2011 were primarily due to increases in franchise restaurant
same-store sales of 1.7% and 2.0%, respectively. We believe franchised restaurant same-store sales for 2012 and 2011
were impacted by the same factors described above for company-owned restaurants.
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